OneLedger

What is OneLedger?

OneLedger is a Delegated Proof of Stake (DPoS) blockchain Layer-1 solution based on Tendermint with Ethereum Virtual Machine (EVM) compatibility. However, it features unique mechanics for re-play protection, double-spending prevention, and other security optimizations. These distinct mechanics are collectively referred to as OLVM (OneLedger Virtual Machine). Additionally, OneLedger can scale to a Layer-2 solution to provide higher transaction throughput (TPS) and cater to custom needs.

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Recent Video Interview

Main points of the interview:

• One Ledger aims to provide a "single source of truth" for enterprises by solving complex challenges with blockchain technology.
• Offers both public and private blockchain networks, with a focus on interoperability through their unique modular architecture and Tendermint consensus.
• Blockchain-based health evidence system for global health certification, especially for COVID-19 mitigation.
• The importance of secure digital identity management, integrating decentralized principles with a unique identifier system for transactions.

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OneLedger Mainnet

Over the past three years, OneLedger has developed its technology from the ground up, including its Mainnet (Kratos) and Testnet (Frankenstein). The mainnet utilizes an enhanced DPoS consensus mechanism on Tendermint, enabling OneLedger to combine different consensus algorithms within a single chain. This approach provides robust interoperability, making OneLedger an ideal platform for developing enterprise-grade applications and solutions across various industries. It serves as a gateway between enterprise systems and other public/private or on/off chains.

OLT Tokens

OLT is the native token of OneLedger, essential for operating within the OneLedger blockchain ecosystem. Similar to Ether on the Ethereum network, OLT is used to pay gas fees for transactions, ensuring seamless interactions on the platform. Users can utilize OLT to execute smart contracts, transfer tokens, and participate in network governance. Additionally, OLT can be staked to secure the network, offering up to 25% annual percentage yield (APY) with no lockup period. This staking mechanism not only incentivizes participation but also enhances the security and stability of the OneLedger network.

Syndicate Bridge

The Syndicate bridge is OneLedger's scaling solution designed to facilitate connections between EVM-compatible chains and includes its own decentralized exchange (DEX). Traditional bridge solutions often suffer from slow speeds and high gas costs. In contrast, Syndicate bridge employs a novel approach utilizing SAO (Smart Application Orchestration) and a system of witnesses to process and verify transactions efficiently and securely. This innovative method ensures safe confirmation times and improved transaction execution, making it a superior alternative to existing solutions.

Competitive Advantages of Syndicate Bridge

• Speed: Unlike competitors focusing primarily on decentralization and relayers, which can result in higher gas fees and slower transaction finalization, OneLedger emphasizes speed to support trading and arbitrage opportunities across networks while maintaining essential security measures.
• No Commission Fees: Users only incur costs for the enter and exit transactions based on gas prices, with no extra fees for relay processes.
• High Efficiency: OneLedger can process up to 4,000 transactions per second, significantly outpacing Ethereum's 4 transactions per second, with lower energy impact.
• Low Transaction Costs: OLVM enables cost-effective smart contract execution, with fees as low as $0.00000043 compared to Ethereum's $4.0.
• Security: The protocol's security is bolstered by a group of witnesses from OneLedger, each with equal voting rights. Updates and decisions within the protocol require an SAO agreement with over 66% approval. Transactions are validated through a cosigning process, ensuring robust fraud protection.

BOLOS and OneLedger Integration

The Bitcoin Open Ledger Operating System (BOLOS) is a platform by Ledger that allows developers to create pluggable applications for their hardware wallets. By integrating with BOLOS, OneLedger can enhance its security offerings, turning Bitcoin hardware wallets into personal security devices. This enables users to review and install third-party applications that add new privacy features without exposing sensitive cryptographic material.

Advantages for Developers and Businesses

OneLedger is designed to facilitate blockchain adoption by offering tools and solutions familiar to developers, particularly those with experience in Node.js. The OneLedger SDK and OLVM enable quick app development, with support for scalable and customizable sidechains that communicate seamlessly with the main chain. This flexibility allows businesses to deploy blockchain solutions tailored to their needs, whether on centralized or decentralized platforms.

Team Background and Partners

The OneLedger team is comprised of a diverse group of experienced professionals dedicated to advancing the platform's development and success. David Cao, the visionary founder, leads the team with strategic insight and industry expertise. George Connolly, serving as President and CEO, oversees the company's operations and growth initiatives. Business development managers Alan Chan and Folaranmi Oladipupo focus on expanding market reach and forging key partnerships. Basem Mostafa, the Lead Frontend Developer, ensures a seamless user experience, while Sai Manikanta Mudhabattuni, the Lead Support Engineer, provides robust technical support to maintain the platform's reliability and efficiency.

OneLedger's partners: Google Cloud, IBM, Adastra, IBIS, Tomo Chain, QuarkChain, Shyft, Blockster...

Project Development

In the recent AMA session hosted by OneLedger on February 27, 2024, CEO George Connolly discussed the company's strategic direction for the year. Connolly announced his involvement with a new enterprise, Solar Dynamics, alongside OneLedger and Moonba, emphasizing the strategic nature of this move to enhance OneLedger's blockchain solutions, particularly in tokenizing assets and developing dApps for sustainability. This initiative aims to control and test solutions in real-world environments before full rollout, focusing on carbon credits and utility decentralization.

Looking forward, OneLedger plans to hire new talent in business development, marketing, and software development. The development strategy includes creating an AI-based trading bot dApp and revamping the Moonba platform by integrating its tools into the OneLedger ecosystem. Additionally, a new trading platform for carbon credits is under development.

OneLedger Price Analysis

As of December 14 2024 OneLedger has a marketcap of $844K. This is {{percentagefromath}} from its all time high of $0.108259. In terms of its tokenomics, there's a total supply of 1B with 43% currently outstanding. Keep in mind OneLedger has a fully diluted value of $1.9M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.